trailing star
Info
The trailing star is a Expert Advisor for MetaTrader 5 that default trailing stop allow you to take a safe way to trade by ensure that if there is a reverse fluctuation you will be guaranteed profit. but sometime you want trailing stop to take effect when you have a good amount of profit.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use trailing star
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
default trailing stop allow you to take a safe way to trade by ensure that if there is a reverse fluctuation you will be guaranteed profit.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Professional Automatic Trailing Stop Utility for MetaTrader 5 - another powerful expert for MetaTrader 5 traders.
Also recommended: MQL5 Wizard: Trading Signals with Morning/Evening Stars and Stochastic Oscillator - similar expert with strong performance on MetaTrader 5.
default trailing stop allow you to take a safe way to trade by ensure that if there is a reverse fluctuation you will be guaranteed profit.but sometime you want trailing stop to take effect when you have a good amount of profit.
because i you set trailing stop too soon. spread may give you a loss rather than profit.
and you don't have time to wait for a good oppotunity to set trailing stop.
this is where trailing star come in.
trailing star will activate trailing stop only meet below condition:
1) if you set price entry: trailing stop will start at that price
2) if you set point entry: trailing stop will start at that changed point
more free tools can be found at:
You may also like: Trade Signals Using Morning/Evening Stars Confirmed by CCI Indicator in MT5 - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#define VERSION "1.0"
#property version VERSION
#include <Trade\Trade.mqh>
input int entry_point; // Entry Point
input int trailing_point; // Trailing Point
CTrade cTrade;
int OnInit()
{.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.